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Bonus: Steel Industry Evolution: From Wall Street Crash to Future Global Trade Shifts
· 27 min · Episode 6 · Bonus
Episode Bonus: Steel Industry Evolution: From Wall Street Crash to Future Global Trade Shifts
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Privileged Discussions is now Global Trade Deciphered, a sharper reflection of our focus on global trade and business. Same expert insights, new name. Global Trade Deciphered is a Privileged Discussions Productions podcast. Thanks for joining us!
Episode Description
Justin Hayden Miller (Global Trade lawyer) discusses steel - its history, its place in the 1929 Wall Street Crash, through to its future.
The episode is published to coincide with the NASCC: The Steel Conference event in Louisville, Kentucky, on April 2, 2025,
In particular, the episode addresses:
- Comparisons between today’s economic events and those of the 1920s and 1930s
- The importance of steel as a commodity. Steel commodity prices per ton and steel production in the1920s
- Reasons for the drop and crash in steel prices in 1929
- Steel as architectural frames: the art deco New York Chrysler Building and the Empire State Building
- Properties of steel
- Steel used for spaceship components; Space X and Elon Musk’s Starship; The role of steel for any manned mission to Mars
- Stainless steel’s invention by Harry Brearley, and the story of stainless steel in Sheffield ("rustless steel”)
- Steel as a barometer of the world economy
- the current price of steel and oversupply
- US steel demand and tariffs
- European Union Steel Safeguard Measures: the EU Tariff Rate Quotes (TRQ) and Anti-Dumping tariffs
- An explanation of Absolute Quota Systems and Tariff Rate Quotes (TRQ), using analogies
- Trade Diversion and protective measures
- A comparison between the properties of steel and those of world and economic leaders
ARTISTIC REFERENCES:
$100 Bill (Song) Rap, Hip-Hop
Written by Jay-Z and Producer, Evan Mast.
Written for the 2013 film adaptation The Great Gatsby.
Recorded May 6, 2013.
Spotify: https://open.spotify.com/track/4XP935ZDMy36SyYGB8wadP?si=924c9d14548f4875
The Great Gasby (movie) 2013
Directed by Baz Luhrmann; Starring Leonardo DiCaprio, Tobey Maguire and Carey Mulligan.
Release Date: May 1, 2013 (New York City)
Star Wars (Movie) 1977
Written and Directed by George Lucas.
Release Date: May 1977
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